According to a senior cryptocurrency analyst, artificial intelligence (AI) is expected to enter the crypto ecosystem soon and could become a major force in the blockchain space. An ex-Analyst from Ark Invest shared his expectations regarding AI and the cryptocurrency ecosystem with his followers.
Compatibility of Artificial Intelligence with Crypto!
Chris Burniske, a partner at Placeholder Capital and former analyst at ARK Invest, stated that AI platforms will eventually dominate cryptocurrency networks and force us to find ways to distinguish between human users and AI entities in every project. He also emphasized the “striking” growth expected in AI-supported cryptocurrency markets. In his comments, the expert stated:
Within a few years, crypto network statistics may need to be divided between Monthly Active Users (MAUs) and Monthly Active Machines (MAMs). People still do not fully grasp how perfect blockchain is for the financial needs of AI agents, but when it clicks, the growth will astonish us all.
“Decreasing Interest in AI Tokens!”
Chris Burniske also highlighted that the existing bots currently active on some chains resemble the “Neolithic age for people experimenting with primitive tools.” While AI-related cryptocurrency projects are witnessing healthy growth in 2023, cryptocurrency analytics firm Kaiko reported a decrease in trading volume for the subsector compared to other digital asset classes last week, stating:
Tokens related to AI are losing momentum and reaching the lowest weekly trading volume since January.
Meanwhile, Bitcoin saw significant support as it surged to $29,000. Currently, Bitcoin is trading just below the $29,500 resistance level that is reinforced by the downtrend line visible on the four-hour chart. Additionally, if Bitcoin manages to surpass the $29,500 level, it may encounter resistance at the psychologically significant level of $30,000.
